Hawaiian Electric announces $500M offering of common stock

Hawaiian Electric Industries announced it intends to make an offering of $500M of shares of its common stock. HEI intends to use the net proceeds from the offering to fund its contribution to the expected Maui wildfire tort litigation settlement and for general corporate purposes. Wells Fargo Securities and Barclays Capital are the joint lead book-running managers and Guggenheim Securities is a book-running manager for the offering.